Myanmar conveys over 1.4 mln tonnes of rice to external markets in Apr-Oct

Myanmar shipped over 1.4 million metric tons of rice and broken rice to foreign trade partners in the past eight months (April-October) of the current financial year 2022-2023, with an estimated income of US$510 million, according to Myanmar Rice Federation (MRF).
In the past eight months, more than 42 exporter companies delivered over 1.09 million MT of rice and broken rice to external markets by sea, whereas over 315,677 MT were sent to neighbouring countries via border posts.
Myanmar shipped rice and broken rice to regional countries, countries in Africa and European Union member countries through maritime trade. It is also exported to neighbouring countries, China and Thailand through cross-border posts.
China is still the main buyer of Myanmar’s rice in the past seven months, purchasing over 224,000 tonnes of rice and over 237,000 tonnes of broken rice.
Myanmar exported rice to over 20 foreign markets in the past months, mostly to China (224,291 MT), followed by Bangladesh, the Philippines and other European countries such as Italy, Spain, Poland, Belgium, the Netherlands and France. Additionally, Myanmar primarily conveyed 237,757 MT of broken rice to China and 198,738 MT to Belgium.
The prices of high-grade rice varieties stood at K60,000-90,000 per bag and K35,500-45,000 per bag for low-grade rice varieties.
The export price of Myanmar’s rice was relatively lower than the rates of Thailand and Viet Nam, according to MRF.
The federation targeted to ship 2 million tonnes of rice this year. Myanmar has shipped more than 1.4 million tonnes of rice and broken rice to foreign trade partners between 1 October and 31 March in the past mini-budget period (2021-2022), Myanmar Rice Federation stated.
Myanmar bagged US$700 million from the export of two million tonnes of rice to foreign countries in the past 2020-2021 financial year. —KK